Apple Ramping up Its Spending to Millions of Dollars on Original TV Content
Thursday, May 26, 2016
Sources familiar with the matter told The Financial Times that Apple intends to ramp spending on original content production to the tune of “several hundred million dollars a year”. According to the financial newspaper, Apple was also interested in buying Time Warner last year.
The media conglomerate’s market capitalization is around $60 billion. According to the story, Apple’s Eddy Cue mentioned the possibility of a buyout at a meeting with Olaf Olafsson, Time Warner’s head of corporate strategy.
Time Warner is a giant conglomerate in the media business with many popular companies under its belt, including CNN, HNO, and TNT. Despite the deal never materialising, the report notes that Apple is still interested in acquiring a media company, though if it does end up acquiring one company, its relationship with other media giants can be severely affected.
Apple has long been rumored to launch its own cable subscription service that can be used in conjunction with the Apple TV, though its release keeps getting pushed back due to various hurdles. Last year, reports also started making the rounds of the internet indicating that Apple is in talk with many executives from Hollywood on producing its own original content. However, we are yet to see anything from Apple on that front.
“They’ve been on the lookout for content assets for several months,” said one of the bankers who has worked with Apple, adding that Tim Cook & Co. are looking to acquire a streaming company, such as Netflix.
Time Warner is a giant conglomerate in the media business with many popular companies under its belt, including CNN, HNO, and TNT. Despite the deal never materialising, the report notes that Apple is still interested in acquiring a media company, though if it does end up acquiring one company, its relationship with other media giants can be severely affected.
Apple has long been rumored to launch its own cable subscription service that can be used in conjunction with the Apple TV, though its release keeps getting pushed back due to various hurdles. Last year, reports also started making the rounds of the internet indicating that Apple is in talk with many executives from Hollywood on producing its own original content. However, we are yet to see anything from Apple on that front.
“They’ve been on the lookout for content assets for several months,” said one of the bankers who has worked with Apple, adding that Tim Cook & Co. are looking to acquire a streaming company, such as Netflix.
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